Gujarat-based Mono Steel India Ltd. (Mono TMT, Fe500 grade) has decreased its rebar price today by INR 700/t. The current offer for 12 mm rebar stands at INR 50,600/t, FoR Ahmedabad, (excluding GST). In the last couple of days, the company’s rebar prices have declined by INR 1,700/t. Limited demand for long steel and resulting corrections in semi-finished steel (ingot/billet) prices have led to a sharp fall in offers, sources told SteelMint. Mono Steel has a rolling capacity of 220,000 t per annum.
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